HMO Mortgages for Large HMO Properties 20+ Rooms
Larger HMO properties tend to be purchased by professional landlords wishing to add to their existing property portfolio. Lenders normally require applicants to have experience in letting HMO properties. Any configuration of internal layout and accommodation can be considered, including properties with multiple kitchens.
- Large HMO with up to 20 – 25 letting rooms
- Blocks of flats in 1x freehold title
- Properties converted into bedsits and studio apartments
- Properties with more than 1 kitchen
HMO Property Specialist Lenders
HMO properties with more than 8x letting rooms require specialist lenders. We can help by selecting the correct mortgage from a panel of such lenders, suitable for any size of HMO property with up to 20 or 25 letting rooms, but more can be accommodated.
We can arrange mortgages that will allow corporate lets to local authorities and housing associations and also company lease arrangements. Properties can either have shared kitchen and bathroom facilities, or they can have cooking facilities in rooms (studio apartments) in fact any combination of accommodation can be considered.
Applicants should have at least 3 years letting experience and should be owner occupiers. Applicants should also have experience in HMO property. In some cases, professional landlords who are not owner occupiers can be accepted. Applicants should be able to demonstrate good level of personal income and net worth. A clean credit history is required.
- UK Passport Holder or UK Driving License
- Evidence of deposit funds ( Bank statement )
- Clean credit history
- Some minor and historic adverse credit can be considered
- Applicants can be employed, self employed, or retired
- Previous letting experience
- Applicants should be able to demonstrate a reasonable level of personal income
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